Hybrid Lender
Where To Use a Hybrid Loan:
This loan is perfect for investors who are intending to buy and sell or buy and rent investment property.
How Much Money Needed:
20%-25% Down Payment of Purchase Price + Rehab Cost
The Process:
Step #1: Investor contacts JB Capital and completes the application to get approved for a refinance loan on a potential investment property. (Why get approved for a refinance prior to approval for the purchase? We will explain in next steps.) Two applications and forms will need to be completed and sent to JB Capital.
Step #2: JB Capital sends the approval letter to the commercial banker. This commercial banker will then complete the purchase loan. We call this loan "Bridge Financing". The commercial banker will make a short term loan, 9 months to the investor for the purchase and remodeling cost. The loan amount is higher because it includes the purchase price plus the rehab cost.
Step #3: Once, purchase and remodeling have been completed JB Capital will complete a refinance. We call this loan the "Take-Out" loan. Here the borrower will be able to get their down payment and remodeling cost back for re-investment in future endeavors.
Checklist and Application:
Click Here For Investment Calc
Jesse Byrer
773-661-2462 Direct
773-904-7606 eFax
